Evening star. [volume] (Washington, D.C.) 1854-1972, 1887-09-29


The New York Tribune of to-day says: Secretary
Falrchild was at the Sub-TreaSury yesterday, and
In response to previous intimations many bank
Officers called on him shortly after noon. The
gathering assumed the proportions of formal
conference, but the results were not important.
Among those who were present were Presidents
Edmund d. Randolph, OF the COntinental; Henry
W. Cannon, OF the Chase; John Jay Knox, Of the
Republic; William P. st. John OF the Mercantile;
o. ID. Baldwin, of the Fourth; Charles NJ. Fry, OF
the New York, and James T. Woodward of the Han
over; EicepresidentS Harris c. Fahnestock, of the
First, and Conrad n. Jordan, OF the Western; Vim
Sharp, Jr., cashier or the Mechanics; Richard T.
Wilson, Roosevelt G. Rolston, president Of the Far
mer's Loan and Trust Company; Chas Lanier of
Winslow. Lanler 4 Co.; JnO. &. Brown of Brow n
Brothers Co.; Geo. c. Magoun. OF Kfdder, Pea
body Co., and Alex. E. Orr, president OF the Pro-
duce Exchange The secretary asked for 1nfOrma-
tlon ana suggestions and listened with close at
tentIon TO all that waSsaid 1t was not unnatural
perhaps that the remedies suggested for the ac.
emulation OF money by the Treasury were widely
dluefent Ihe Secretary made no positive reply
when he was asked II he could buy bonds after the
sinh1ng-fund requirements had been flied although
precedents were cited and apparently the bankers
present entertained no DOUBT on the subject.
The Secretary said that the Treasury accumula-
tlon was larger In appearance than substance and
called attention TO The effect OF the silver coinage
on the government balance sheet. He expressed a
wish TO do all in his power to avoid monetary dis
turbance until the meeting OF Congress, and a
hope that some means would be devised by which
this end could be accomplished. When the CON
ference was ended the Secretary started for WASH
ington, although he had expected to see the yacht
race to-day.
Assistant Treasurer Canda said afterward: "Mr.
Fa1rchild wished TO meet some OF the financial
men OF the city, but there was no attempt to de-
eide on anything. He had not met many OF them
before and he was glad TO hear their views on the
money market and the Treasury policy | do not
think 1T would be proper for me to say anything
further
An officer OF prominent Wall street bank re-
marked: ''The talk amounted to nothing, and
probably 1t was not expected to be conclusive
Every one had a panacea OF his own and the Sec
retary could hardly decide at once between so
many doctors | was impressed. however, with
the evident intention OF the Administration to
avoid, il possible, any financial trouble The Sec
retary did not say what he might do when the
sinking fund requirements were fled, but he inti-
mated plainly his wish to pay out all The Treasury
absorbed until the present laws had been modified
or at least considered by Congress"
Another bank officer, who has had long ac-
quaintance with Secretary Fairchild, was slightly
less sanguine. lie said that 1t was doubtful
whether The Trea sury could buy bonds at a prem
ium after the sinking fund had been supplied al
though Specious preJeXtS had been plentiful on
previous occasions.